Carey outlines MAC plan to steer New York City through crisis
Gov. Hugh L. Carey unveils legislation to create a Municipal Assistance Corporation to market city bonds and divert some tax revenues to back debts. The plan, aided by Felix Rohatyn, seeks federal loans and state advances to ease cash shortages, with school aid eyed as a future funding source despite slim odds of immediate federal support.
MENTIONED IN THIS ARTICLE
Albany
N.Y
UPI
Hugh L. Carey
New York City
Municipal Assistance Corporation
MAC
Carey
Felix G. Rohatyn
Fast footwork meets payroll and 75th union anniversary
The International Ladies Garment Workers Union marked its 75th anniversary as members reflect on its impact. Meanwhile New York City used prepaid property tax payments from major owners like New York Telephone Co. and Consolidated Edison to cover a $132.9 million debt, avoiding a payroll shortfall and keeping 330,000 paychecks from bouncing. In cash flow terms, the city faced a projected negative $8 million before the late transfers, with $71.3 million in resources planned for the day.
MENTIONED IN THIS ARTICLE
International Ladies Garment Workers Union
New York
UPI
Comptroller’s Office
Protest in Lisbon as coalition clashes over Republica
Demonstrators march through Lisbon amid a socialists dispute with the military civilian coalition. They threaten to withdraw unless the newspaper Republica resumes publication by today.
MENTIONED IN THIS ARTICLE
Lisbon
Republica
Guerrillas seize Spanish train in gunbattle
Two suspected Basque guerrillas hijacked a Spanish train, killing one guard and wounding the other after a gunfight with a two-man police detachment. They forced the engineer to stop at a rendezvous point and fled in a getaway car as authorities vow tougher action in the Basque region.
MENTIONED IN THIS ARTICLE
Madrid
UPI
Cortes
Also Mentioned on This Page
Rohatyn
Joan
Hugh Carey
Simon Rifkind
Felix Robaydon
Pennsylvania
T ' Orange
Orange County
Sylvia Porter
Raceway
Monticello Raceway
Leon Greenberg
Caid
Becaus
Kennedys
Robert Kennedy
Los Angeles
John Kennedy
Caroline
ILGWU
First
Harry S. Tishelman
Abraham Beame
New York Telephone Co
Consolidated Edison
Tishelman
Chase Manhattan Bank
the Times Herald
Ebece
Orange County Publications Division
Otteway Newspapers, Inc
Mulberry St
Middletown
Jack Anderson
Porter
Reston
Landers
von Hoffman Dana
Metro News
Around the
London
Europe
Independent Television News
API
Africa
Ethiopia
Somalia
Horn of Africa
Ogaden Desert
Argentina
N.Y. Times
Buenos Aires
Celestino Rodrigo
Seoul
South Korea
Kim Young Sam
Park Chung Hee
North Korea
New Democratic Party
Hart
Washington
Philip A. Hart
Michigan
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